Megatrends

The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.

Internet Retailing in Bulgaria

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Executive Summary

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PROSPECTS

Favourable conditions for growth

Internet retailing is set to continue to expand strongly over the forecast period. The proportion of the Bulgarian population using the internet is expected to rise by 15 percentage points to more than 80% by 2023, making internet retailing accessible to a significantly broader range of consumers.

Demographic trends to have a slight dampening effect

While several factors are supporting the development of internet retailing in the Bulgarian market, demographic trends are likely to have a dampening effect on the channel’s expansion. Between 2018 and 2023, the decline in the overall Bulgarian population is set to be driven primarily by the shrinking of the young adult and middle youth segments, aged between 18 and 44.

Largest product categories to grow strongly

Apparel and footwear, and consumer electronics are the largest product categories in internet retailing, jointly accounting for 45% of total value sales in the channel in 2018. Both categories are set to see strong value growth over the forecast period, bolstered by store-based players’ growing commitment to developing their online presence.

COMPETITIVE LANDSCAPE

Dante International holds lead

The major international internet retailers, including world-leader, Amazon, have not shown a strong commitment to building a presence in Bulgaria, leaving space for the development of domestic and regional players to establish themselves and build consumer bases. Indeed, Amazon’s share of internet retailing value in the market declined by more than half over the review period, with the company falling from second to fifth in the rankings between 2013 and 2018.

Store-based players increase focus on e-commerce

While the leading company in internet retailing remains a pure player, the competitive environment is shifting towards multi-channel operators, as store-based players look to respond to the channel’s rapid expansion. Major store-based retailers from a broad range of channels entered the Bulgarian internet retailing market during the review period, including apparel and footwear specialists such as Inditex and H&M, health and beauty specialists such as Sopharma, and home and garden specialists like IKEA.

Dynamic online grocer looking to extend geographic reach

Online grocery retailing brand, ebag.bg, saw the fastest growth amongst the top 20 brands in the channel in 2018.

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